Laura Koss-Feder reports that given the difficult economy, some Long Islanders are deciding to rent instead of buy. And many are flocking to apartment buildings with three floors or more.
Apartments are being grabbed up less than 30 days from being listed on the market, says Dougall Fraser, senior vice president and manager with Daniel Gale Sotheby's International Realty in the Garden City and Cutchogue offices. Read the full story here.
Meanwhile, Laura Rivera reports that thousands of tenants of rent-regulated apartments in Nassau County have been waiting for months to find out how much rent they're supposed to be paying.
The Nassau Rent Guidelines Board - which sets annual limits on rent increases for some 13,000 private housing units - is now seven months past its deadline to decide on rate increases for the 12 months starting last October. Read the full story here.